UPDATE: Stifel Nicolaus Raises PT to $71 on FEI Company on 2014 Growth
Stifel Nicolaus maintained FEI Company (NASDAQ: FEIC) with a Buy rating and raised the price target from $65.00 to $71.00.
Stifel Nicolaus said, "We are introducing FY14 (Dec) estimates and with that, we are increasing our target price to $71 (from $65), applying the same valuation of 17x our new pro-forma EPS (2014), excluding options plus the company's net cash position. Although there are many macroeconomic scenarios that could still occur before the end of 2013, we believe FEI is positioned to grow once again in 2014, driven by some of its higher growth business segments."
FEI Company closed at $64.17 on Friday.
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